Question: please tell me Which statement correctly describes price-setting and price-taking firms Select one: a.In a market with price-setting firms, the total surplus is maximised. b.The

please tell me Which statement correctly describes price-setting and price-taking firms

Select one:

a.In a market with price-setting firms, the total surplus is maximised.

b.The price-taking firms have more incentive to advertise their products in comparison to the price-setting firms.

c.The price-setting firm maximises its profit, whereas the price-taking firm chooses an output level that generates zero economic profits.

d.The price-taking firm chooses a quantity at which the price is less than the marginal cost.

e.The price-setting firm chooses a quantity at which the price is higher than the marginal cost.

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